Oppenheimer Holdings Weighs in on CenturyLink, Inc.’s FY2017 Earnings (CTL)
CenturyLink, Inc. (NYSE:CTL) – Oppenheimer Holdings dropped their FY2017 earnings estimates for CenturyLink in a research report issued to clients and investors on Friday. Oppenheimer Holdings analyst T. Horan now expects that the technology company will post earnings of $1.93 per share for the year, down from their prior estimate of $2.02. Oppenheimer Holdings also issued estimates for CenturyLink’s Q4 2017 earnings at $0.50 EPS.
A number of other brokerages have also recently commented on CTL. BidaskClub cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Barclays PLC cut their price target on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, June 29th. UBS AG set a $29.00 price target on shares of CenturyLink and gave the company a “buy” rating in a research report on Thursday, June 22nd. Cowen and Company upped their price target on shares of CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 price target on shares of CenturyLink in a research report on Tuesday, October 3rd. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $25.55.
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CenturyLink (NYSE:CTL) opened at 20.00 on Monday. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 28.99 and a beta of 0.89. The stock has a 50 day moving average price of $19.38 and a 200 day moving average price of $22.97. CenturyLink has a 52-week low of $18.17 and a 52-week high of $33.45.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis.
Several institutional investors and hedge funds have recently bought and sold shares of CTL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of CenturyLink in the 1st quarter worth about $221,000. Pacer Advisors Inc. raised its holdings in shares of CenturyLink by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 10,042 shares of the technology company’s stock worth $237,000 after acquiring an additional 329 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of CenturyLink by 1.9% in the 1st quarter. Nordea Investment Management AB now owns 24,011 shares of the technology company’s stock worth $566,000 after acquiring an additional 444 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of CenturyLink by 33.0% in the 1st quarter. Victory Capital Management Inc. now owns 294,342 shares of the technology company’s stock worth $6,937,000 after acquiring an additional 72,995 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of CenturyLink by 12.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,069,696 shares of the technology company’s stock worth $25,213,000 after acquiring an additional 115,916 shares during the last quarter. Institutional investors own 83.04% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were issued a $0.54 dividend. The ex-dividend date was Thursday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.80%. CenturyLink’s dividend payout ratio is presently 313.04%.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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